WASHINGTON, D.C. – The U.S. Office of the Treasury today and yesterday hosted Tribal Consultations on the Inflation Reduction Act to hear to start with-hand from Tribal leaders about provisions in the regulation that instantly have an impact on Tribal nations. Much more than 200 Tribal leaders and citizens attended.
The consultations are component of Treasury’s ongoing get the job done to solicit input to inform its implementation of the Inflation Reduction Act, the one most considerable legislation to battle climate modify in our nation’s record. Nearly a few quarters of the law’s $369 billion local climate transform expense – $270 billion – is delivered by using tax incentives, placing Treasury at the forefront of this landmark legislation.
The official consultations also symbolize Treasury’s broader dedication to robust, meaningful, and typical session with Tribal Nations as element of its work to improve relationships with tribes. In June, Secretary of the Treasury Janet L. Yellen grew to become the first Treasury Secretary to check out a Tribal Country when she visited the Rosebud Sioux Tribe in South Dakota, and in September, Mohegan Chief Lynn Malerba was sworn in as the Treasurer of the U.S., the initial Native American to maintain that office environment. The Office also this 12 months established a new Business office of Tribal and Native Affairs, which reports to the Treasurer and coordinates Tribal relations all over the Department.
Precisely, Treasury asked for input from Tribal leaders on provisions linked to immediate payments to Indian Tribal governments for qualifying clean strength tasks, the allocation of bonus tax credits for qualifying clear electricity tasks located on Indian land, and processes for car dealers to provide cars suitable for cleanse car or truck tax credits to sign up with the IRS, which include auto sellers accredited by an Indian Tribal authorities.
Treasury is also accepting prepared feedback from Tribal leaders at: [email protected].
For far more information on Treasury’s stakeholder engagement all around the Inflation Reduction Act’s climate and cleanse energy provisions, be sure to see:
August 16, 2022: Treasury Releases First Information and facts on Electric Vehicle Tax Credit rating Underneath Freshly Enacted Inflation Reduction Act
Oct 5, 2022: Treasury Seeks Community Enter on Implementing the Inflation Reduction Act’s Clean Energy Tax Incentives
Reality SHEET: Treasury, IRS Open up Public Remark on Employing the Inflation Reduction Act’s Thoroughly clean Electrical power Tax Incentives
Oct 26, 2022: READOUT: Stakeholder Roundtable on Clean up Energy Generation and the Inflation Reduction Act
October 27, 2022: READOUT: Stakeholder Roundtable on Local weather Impression, Equity, and the Inflation Reduction Act
Simple fact SHEET: Four approaches the Inflation Reduction Act’s Tax Incentives Will Help Creating an Equitable Clean Energy Economy
Oct 31, 2022: READOUT: Stakeholder Roundtable on Investor Perspectives on Weather Modify, Clean up Electricity, and the Inflation Reduction Act
November 3, 2022: Treasury Seeks General public Enter on More Clear Vitality Tax Provisions of the Inflation Reduction Act
November 4, 2022: READOUT: Stakeholder Roundtable on Cleanse Automobiles and the Inflation Reduction Act
November 29, 2022: Treasury Announces Guidance on Inflation Reduction Act’s Solid Labor Protections